Frontier Communications (FTR) Downgraded by BidaskClub

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BidaskClub cut shares of Frontier Communications (NASDAQ:FTR) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Frontier Communications from a hold rating to a buy rating and set a $5.50 price target for the company in a report on Tuesday, July 3rd. ValuEngine upgraded shares of Frontier Communications from a strong sell rating to a sell rating in a research note on Tuesday, October 2nd. Guggenheim reiterated a sell rating and issued a $4.20 target price on shares of Frontier Communications in a research note on Wednesday, August 1st. Cowen set a $6.00 target price on shares of Frontier Communications and gave the company a hold rating in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada reiterated a hold rating and issued a $6.00 target price on shares of Frontier Communications in a research note on Friday, August 3rd. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $7.20.

FTR stock opened at $4.79 on Friday. The company has a debt-to-equity ratio of 6.75, a current ratio of 0.47 and a quick ratio of 0.47. Frontier Communications has a 52-week low of $4.26 and a 52-week high of $12.19. The stock has a market cap of $471.91 million, a price-to-earnings ratio of -1.26 and a beta of 0.57.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, July 31st. The utilities provider reported ($0.80) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.83) by $0.03. Frontier Communications had a negative net margin of 12.06% and a negative return on equity of 2.48%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned ($1.10) earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Frontier Communications will post -1.65 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stevens Capital Management LP bought a new stake in shares of Frontier Communications in the second quarter valued at about $106,000. Xact Kapitalforvaltning AB acquired a new position in Frontier Communications in the first quarter worth about $119,000. Glen Harbor Capital Management LLC raised its position in Frontier Communications by 78.2% in the second quarter. Glen Harbor Capital Management LLC now owns 23,086 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 10,132 shares in the last quarter. Midas Management Corp acquired a new position in Frontier Communications in the second quarter worth about $136,000. Finally, Captrust Financial Advisors acquired a new position in Frontier Communications in the second quarter worth about $153,000. Institutional investors and hedge funds own 62.53% of the company’s stock.

About Frontier Communications

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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